TechnipFMC plc (NYSE:FTI) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its position in TechnipFMC plc (NYSE:FTI) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,591,601 shares of the oil and gas company’s stock after selling 411,925 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned about 0.37% of TechnipFMC worth $46,061,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FTI. Avantax Advisory Services Inc. boosted its stake in TechnipFMC by 24.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock worth $634,000 after purchasing an additional 4,314 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of TechnipFMC in the fourth quarter worth about $519,000. Raymond James Financial Inc. acquired a new position in TechnipFMC during the fourth quarter worth about $9,152,000. Charles Schwab Investment Management Inc. grew its stake in TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after acquiring an additional 249,719 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in TechnipFMC by 1,024.4% in the 4th quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company’s stock valued at $415,000 after acquiring an additional 13,071 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of FTI opened at $29.68 on Friday. The firm has a 50-day simple moving average of $27.54 and a two-hundred day simple moving average of $29.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45. The stock has a market cap of $12.44 billion, a PE ratio of 19.53 and a beta of 0.98.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, May 20th. TechnipFMC’s dividend payout ratio is currently 10.53%.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of analyst reports. Piper Sandler upped their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Evercore ISI lifted their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Barclays boosted their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.83.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,706 shares of company stock worth $1,651,665 over the last three months. Company insiders own 1.80% of the company’s stock.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.